Posted on 08/05/2023 9:26:33 AM PDT by Drew68
my husband has a client who Upsized his home at 75.
Brand new house, had to take another mortgage. and his house was paid for.
He and his wife are now looking to sell and move closer to their kids.
Kourtney only dates whites- she the only one though.
my kid just moved out and when she was here to get her dog, I made it clear that anything she left was going to be part of our purge.
i just gave away her frye boots.
Bought our current house just as prices were heading up so we gained a nice chunk of equity. Also got a recent promotion so we checked out homes with an additional bedroom. All our rooms are used and we always like having a guest room for family and friends. If it was just interest or just home prices, we could have handled the increase. But with both combined the new mortgage estimate was over double.
What they haven’t mentioned here is that with investment companies owning 25% of all single family homes, there is a huge shortage of homes for sale. That is what has kept home prices high despite interest rates skyrocketing.
I’ve done the comparison and with the 65% increase in house prices in this market over the last two years and the increase in interest rates, I would be paying TWICE per month what I’d have paid for the same house just a couple years ago. Pass.
I can live with higher prices or higher interest rates, not both. I’ll just sit until one of the two comes down significantly.
Fixed-rate debt is a hedge against inflation. When the value of the dollar declines, you are paying off your debt with cheaper dollars.
Think of it this way. Debt allows you to use the dollars you borrow now when they are worth something, and pay them back later when they are not.
Sorry, read your post as coming at it from the other angle...
“Can you believe how petty and ungrateful these people sound?”
I believe that the author found two or three ‘petty and ungrateful’ homeowners and then proceeded with his dramatic article.
Because he is stupid with money
The real problem is people like to complain. If the interest rate is high, they’ll complain they can’t sell and they’re paying too much. If it’s low they’ll complain they feel trapped.
It reminds me of people who live in an area being gentrified. The value of their house goes way up so their taxes go up too. So they complain even though the value of their house is up.
“Unable to invest in their futures has contributed to the nihilism and despair that today’s younger Americans are feeling and gives them the fuel to pursue more frivolous activities such as “fighting climate change.”
That line, or a close facsimile, was written back in 1967 when the hippies landed at Haight - Ashbury.
Sure, but all these hippies were married with children by the time they turned 25. They cut their hair and got jobs, bought homes, realized the American Dream.
Today, we're talking about people well into their 30s, unmarried, childless, working "gig economy" jobs, and understanding that they're unlikely to ever enjoy the financial comfort that their parents did.
Just so you know, there is a different way to play the game and snooker the tax man, but it is drastic.
On your death, your heirs get a step-up in basis to the appraised value at the time of your death. Capital gains are wiped out.
Depending on your thinking, this could mean nothing to you, or you could see it as the basis for generational wealth. Rentals make a lot of sense for retirement investments since the income is inflation-protected. DW and I will pass our rentals to our children who will then benefit from the step-up in basis.
One daughter left us a dog, but it was a wonderful dog. I think we still have some of her stuff, though, and it’s been 14 years.
I think there are a lot of options including lowering the brokerages % of the listing, brokering rent to own deals etc.
that’s nice of you to store it!!
She probably wouldn’t care if we gave it away. We just haven’t gotten around to it because it’s not underfoot.
It was nearly 20 years later - 1984 - before those “hippies” voted overwhelmingly for Reagan.
In 1964, the “greatest generation” voted overwhelmingly for the criminal democrat LBJ.
Before that, our grandparents voted for the fascist Roosevelt.
Our presidential elections are one surprise after another.
Certainly not San Diego
San Diego has the best weather, period, of anywhere.
Now, I’d venture up I-5 to Orange County, say Laguna Niguel, San Clemente, something like that... but SoCal? just about perfect (except the government).
That’s just too difficult a concept for the Dave Ramsey Conservatives to grapple with. :)
As Robert Kiyosaki put it: “When Nixon took us off the gold standard, debt became money.” The only way to play the game now is to borrow as much as you can to buy income-producing assets. Playing it “safe” by aiming for zero debt and trying to save units of their failing currency is a fool’s errand.
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